https://wccftech.com/tesla-shares-win-a-much-needed-respite-as-elon-musk-completely-eliminates-the-twitter-margin-loan-facility/

Elon Musk had sent Twitter shares in a downward spiral over the past couple of days as he publicly wrestled with the social media giant’s board on the proportion of bots and fake accounts invariably included in the platform’s Daily Active Users (DAUs) metric. Now, however, contrary to Musk’s public proclamations, the deal appears to be moving ahead quite swiftly.

As a refresher, Musk had originally arranged $46.5 billion in financing for his Twitter takeover deal, consisting of $21 billion that the CEO of Tesla was required to arrange from his own resources and the residual $22 billion expected to materialize in the form of loans and bank financing, including a $12.5 billion margin loan with a loan-to-value ratio of 20 percent. This margin loan, however, was problematic. As we had explained in a dedicated post, the margin loan facility required Musk to post unencumbered collateral of at least $62.5 billion. With the recent plunge in Tesla’s share price, some analysts speculated whether Musk would be able to post sufficient collateral for the facility, given the fact that over half of Musk’s Tesla stake is already pledged to underwrite his existing personal loans.